Please see below measures available to those impacted by loss of employment as a result of the COVID-19 pandemic, together with details of the timing of payments and a step by step guide to registering for payments
Centrelink
- Clients require a Centrelink Customer Reference Number (CRN). Rather than queuing at Centrelink Offices, clients can register by calling 132 850 and providing 100 points of ID, like your driver’s licence, passport and/or your Medicare card number over the phone to get a reference number.
- Once you have a reference number, head to my.gov.au and arrange to collect immediate job seeker payment – a single person with no children is entitled to a payment of up to $565 per fortnight depending on your personal circumstances.
- The maximum fortnightly rate increases depending on personal circumstances including dependent children
Stimulus Payments
- Those eligible for federal government stimulus payments will receive the first $750 on 31 March 2020 with a second $750 payment on 13 July 2020.
- In mid-April, eligible Australians can apply for an additional $550 coronavirus supplement per fortnight via the myGov website with payments to commence from 27 April 2020. This supplement is not subject to the normal assets test.
Therefore, the maximum potential payments are;
- One-offs $1,500
- Ongoing $1,115 per fortnight
Withdrawing from Super
If you’ve lost your job and need access to your super you can access up to $10,000 from your super fund by mid-April via the myGov website.
- MyGov will instruct the ATO to get in contact with your super fund after mid-April and process your withdrawal.
- You can repeat the process and withdraw up to another $10,000 after 1 July 2020.
- Smith Feutrill recommends clients considering withdrawing from superannuation contact the appropriate Smith Feutrill team member to discuss. Any withdrawals from superannuation may have both short and long term impacts on returns, balances and insurances held.
Smith Feutrill